4/19/1978 - Laserfiche WebLink

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ADMINISTRATOR JENNINGS CONFIRMED THAT THIS,HAS BEEN APPROVED BY THE SUBDIVISION REVIEW COMMITTEE AND A CASH BOND HAS BEEN PUT UP INSURING COMPLETION OF THE ROADS, MOST OF THE OTHER IMPROVEMENTS HAVING BEEN COMPLETED. COMMISSIONER SIEBERT ASKED IF THE ADMINISTRATOR IS SATISFIED WITH THE AMOUNT OF THE CASH BOND, AND ADMINISTRATOR JENNINGS FELT THAT $160,000 WOULD BE SATISFACTORY. ON MOTION BY COMMISSIONER SIEBERT, SECONDED BY COMMISSIONER SCHMUCKER, THE BOARD UNANIMOUSLY AGREED TO ACCEPT THE PERFORMANCE BOND IN THE AMOUNT OF $160,000, INSURING COMPLETION OF CASTAWAY COVE SUB- DIVISION. MOTION WAS MADE BY COMMISSIONER SIEBERT, SECONDED BY COM- MISSIONER DEESON, TO GRANT FINAL APPROVAL OF CASTAWAY COVE SUBDIVISION. CHAIRMAN WODTKE POINTED OUT THAT THE LETTER DATED APRIL 13TH FROM LLOYD AND ASSOCIATES, ENGINEERS, STATES THAT $41,932.95 HAS BEEN PAID OUT OF THE CASH BOND FOR WORK THAT HAS BEEN DONE, WHICH LEAVES A BALANCE OF $118,067.05 IN THE BANK. COMMISSIONER SIEBERT AND COMMISSIONER DEESON AGREED TO WITH- DRAW THEIR MOTION AND DISCUSSED RECONSIDERING THE PREVIOUS ACTION BE- CAUSE THE BOARD AGREED TO ACCEPT A BOND IN THE AMOUNT OF $160,000, WHICH IS NOT THE CORRECT AMOUNT. COMMISSIONER LOY NOTED THAT THE ORIGINAL AMOUNT OF $160,000 WAS CONSIDERABLY MORE THAN ACTUALLY NEEDED SO, EVEN WITH THE DEDUCTION, THERE PROBABLY STILL IS MORE THAN SUFFICIENT TO ASSURE COMPLETION. ADMINISTRATOR JENNINGS AGREED THAT WITH AN OVERRIDE OF $30,000 AND 15% OF ALL PAYMENTS HELD BACK, THE $118,000 PROBABLY WOULD BE . SUF- FICIENT, BUT NOTED THAT HE COULD NOT STATE POSITIVELY WHAT THE COST OF COMPLETION WOULD BE. THE CHAIRMAN SUGGESTED ACCEPTING THE BOND SUBJECT TO THE ADMINISTRATOR'S VERIFICATION OF DOLLAR AMOUNTS AND AFTER AN ON-SITE INSPECTION, ADMINISTRATOR JENNINGS NOTED THAT MR. RATHBUN NEEDS TO GET HIS PLAT ON RECORD BECAUSE HE HAS SOME CLOSINGS AND NEEDS TO GET ON WITH CONSTRUCTION. 9 BOOK -4 ot ,PACE 25—